Anyone interested in taking part in online auctions surely turns to eBay as the first site to go to. The company has been in business for many years and satisfied millions of customers. Members of the site have bought and sold millions of dollars worth of merchandise thanks to the innovative — and simple – concept at the core of the website.
The Inventory of Merchandise
There are definitely rules in place regarding what may or may not be sold on the site. Generally, all manner of retail merchandise is allowed. Clothing, sporting goods, consumer electronics, books, arts and collectibles, and more are available for browsing. Customers wishing to browse the grand selection of items may do so without any obligation.
A Basic Strategy
The original concept of the website was simple. Anyone looking to sell could place merchandise up for auction. Buyers could then place bids with the hope of procuring something at a deeply discounted price. The transaction would be completed through any number of payment methods with Paypal now being the preferred one. Credit cards, of course, remains viable means in which payments can be transacted.
The auction concept has been expanded so that buyers are able to make a purchase with a “buy it now” feature. While auctions can be fun, some would just prefer to make a purchase quickly and easily. Such buyers and sellers have been appropriately accommodated.
The establishment of stores on the site is another incredible concept that allows sellers to publish — in essence — an online catalog of items for sale. This allows for simultaneously creating both an auction approach and a traditional online retail sales approach.
Signing Up for Service
Signing up with eBay is free and simple. No one is charged for being a member. Those who sell their items has the Ebay listings number and need to pay a listing fee and a reasonable percentage of the sale. This is how the company is able to generate revenue.
A Continually Growing Company
The headquarters of the company is located in San Jose, CA. Business is conducted all throughout the globe. Members come from countries all over the world. The growth has been significant since the founding of the company under its original name, AuctionWeb, in 1995. Within a very short period of time, sales facilitated through the site reached millions of dollars. eBay soon became a symbol of success in the “dot.com” business world and continues to thrive to this day.